52-week high alert; no stopping for this small-cap electronic stock!
The company held its initial public offering (IPO) earlier this month.
The shares of IKIO Lighting Limited surged more than 3.15 per cent, to trade at a new 52-week high at Rs 477.15 per share on BSE.
IKIO Lighting creates, develops, manufactures and sells items to customers who subsequently resell them under their own names.
The company made its debut on June 16, 2023.
Here are a few IPO details:
The net proceeds of the public offering will be used to settle debts, invest in its subsidiary IKIO Solutions for the establishment of a new facility in Noida and for other general corporate objectives.
The company held its initial public offering (IPO) earlier this month. The Rs 607 crore IPO, which included a fresh issue of Rs 350 crore and an offer of sale (OFS) of 90 lakh equity shares, garnered a massive response from investors, making it one of the most successful primary market issues of the year.
The issue was subscribed by a whooping 67 times. While qualified institutional buyers (QIBs) received 163.58 times, non-institutional investors received 63.35 times and individual investors received 13.86 times.
Over FY20-22, the company's consolidated sales increased at a CAGR of 23 per cent, headed by the headed lighting segment, which increased at a CAGR of 24 per cent during the same period.
Revenue from operations on a proforma consolidated basis jumped 55 per cent year on year to Rs 331 crore in FY22, while profit after tax increased 75 per cent year on year to Rs 50.5 crore.
DSIJ offers a service 'multibagger Pick" with recommendations for multibagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
Investors must keep a close eye on this trending stock.
Related articles
-
Rs 3,400 crore order book: Multibagger power company bags order worth Rs 12,07,26,677 from NTPC & Maharashtra State Power Generation Company!
-
Under Rs 110: This Microcap Railway Company Bags Order Worth Rs 34,94,70,000 from K-Ride, a Rail Infrastructure Development Company!
-
900 per cent returns and FIIs & DIIs increase stake: This multibagger power sector stock secures major order for a 300 MW wind-solar hybrid power project!
-
Penny Stock Under Rs 50 Hits Upper Circuit and 52-Week High; Promoters of This Realty Company Bought 5,15,987 Shares in June!
-
Ashish Kaholia’s Portfolio Engineering Company Stock Hits Upper Circuit; Gains Over 190 per cent in Just 1 Year – Do You Own This Stock?